Security's top priority
Published in the Herald Sun - August 2011
By Karina Barrymore
Investors and savers in search of security are expected to turn to traditional "safe haven" assets gold, cash and property.
Investment experts yesterday warned against selling long-term assets and said a downturn was the best time to buy.
Gold
The price of gold has doubled since the global financial crisis.
Perth Mint treasurer Nigel Moffatt said gold had been a safe haven for more than 5000 years and he was expecting a stream of buyers as investors who previously sought security through government bonds shied away from sovereign debt or foreign currencies.
Property
When the share market falls, investors flee to hard assets such as property," Portfolio Management Services managing director Jock Bing said.
"A large number of our investors have already seen this corning and are in the position now to take advantage of the uncertainty before others start buying," Mr Bing said.
Shares
Dale Gillham, an analyst at fund manager Wealth Within, named BHP, Rio Tinto, Newcrest Mining, Lend Lease and Incitec Pivot as his key defensive stocks.
"The time to exit our share market has passed," Mr Gillham said. "Now is the time to take advantage of the nervousness."
